Conduent Inc (CNDT) — News & Stock Impact

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Smart City / Autonomous Infrastructure

Modaxo Launches Novvan and Routeward After Conduent Deal

Modaxo Inc. has launched Novvan and Routeward, two new business units formed from the Transit Fare Management and Fleet Management Solutions businesses it acquired from Conduent Incorporated. The launch, announced October 1, 2026, completes the acquisition, which Modaxo said is its largest to date, bringing over 2,000 colleagues based in 15 countries into the organization. Novvan is a global provider of fare collection solutions that help transit agencies boost revenue, reduce fare evasion and cut operational costs, while Routeward is a market leader in technology that enhances transit reliability and encourages public transit use. Modaxo Chief Executive Officer Bill Delaney said the company is thrilled to welcome the customers, employees and solutions of the two businesses, adding that they significantly expand Modaxo's scale and the solutions it can offer customers and communities worldwide. The launch represents a deepening of Modaxo's commitment to the Transit Fare Management and Fleet Management Solutions markets globally.

CNDT

Smart City / Autonomous Infrastructure

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Smart City / Autonomous Infrastructure › Connected Fleet & Telematics Competition

Modaxo · Capital · Positive Modaxo completed its largest-ever acquisition and launched Novvan and Routeward, expanding its scale and offerings.

CNDT · Capital · Neutral Conduent completed the sale of its Transit Fare Management and Fleet Management Solutions businesses to Modaxo, its largest divestiture to date.

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United States

Artificial Intelligence▲

Conduent Collaborates with Google Cloud on GenAI-Powered eDiscovery

Conduent Incorporated announced it is expanding its enterprise AI strategy by collaborating with Google Cloud and integrating Google's Gemini models into its Viewpoint platform. The collaboration introduces Enhanced Review, a GenAI-powered capability that applies user-defined protocols to identify relevant content, detect legal issues, and surface high-risk documents early in the review process. Conduent says the integration can reduce document-intensive analysis effort by 30 to 60 percent while improving accuracy, auditability, and defensibility. The solution can be deployed as SaaS on Google Cloud, on-premises, or through managed services, with planned expansion into contract analytics and investigations.

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Artificial Intelligence ▲

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Artificial Intelligence › AI Applications & Copilots ▲Technology

CNDT · Technology · Positive Conduent integrates Google Cloud's Gemini models into its Viewpoint platform, launching GenAI-powered Enhanced Review.

GOOG · Demand · Positive Google Cloud's Gemini models are used in Conduent's new eDiscovery capability, potentially increasing adoption of Google Cloud services.

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United States

CNDT▼

Conduent Q2 2026 Earnings Call Transcript

Conduent reported second quarter 2026 results in line with expectations and updated full-year guidance to reflect the divestitures of its transit and tolling businesses. Revenue was $531 million, down 11.9% year-over-year, while adjusted EBITDA was $16 million, down from $23 million a year earlier. The company announced the sale of its transit business to Modaxo and its tolling business to Quarterhill, expecting approximately $234 million in gross proceeds plus a 7% equity stake in Quarterhill, and plans to use the majority of proceeds to reduce debt. Conduent also updated its 2026 revenue guidance to a range of $2.15 billion to $2.25 billion and adjusted EBITDA guidance to between $140 million and $170 million. CEO Harsha Agadi highlighted progress on cost savings, portfolio optimization, and AI initiatives, including the Conni digital assistant resolving 86% of employee inquiries without human intervention.

CNDT ▼

CNDT · Capital · Negative Revenue down 11.9% and adjusted EBITDA down from $23M to $16M, with guidance updated to reflect divestitures.

Modaxo · Capital · Positive Acquiring transit business, expanding operations and market presence.

Quarterhill Inc. · Capital · Positive Acquiring tolling business, paying with cash and equity, likely to add assets and revenue.

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United States

CNDT▼

Conduent reports Q2 2026 results, signs divestitures to generate $234M in gross proceeds

Conduent Incorporated reported second quarter 2026 financial results and announced signed divestitures expected to generate $234 million in gross proceeds. Revenue from continuing operations was $531 million, down 11.9% year-over-year, while pre-tax loss from continuing operations widened to $57 million. Adjusted EBITDA from continuing operations fell to $16 million, with a margin of 3.0%, and new business signings ACV reached $99 million. The company entered agreements to sell its Public Transit business to Modaxo for $164 million and its Tolling business to Quarterhill Inc. for $70 million plus a 7% equity interest, exceeding its $200 million portfolio action target. Conduent also provided a full-year 2026 outlook for revenue of $2.15 billion to $2.25 billion and adjusted EBITDA from continuing operations of $140 million to $170 million.

CNDT ▼

CNDT · Capital · Negative Revenue down 11.9%, pre-tax loss widened to $57M, adjusted EBITDA fell to $16M

Quarterhill Inc. · Capital · Positive Acquiring Tolling business for $70M plus 7% equity interest, expanding portfolio

Modaxo · Capital · Positive Acquiring Public Transit business for $164M, strategic expansion

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CNDT▼

Bill Miller Lists Conduent Incorporated Among Top Stock Picks

Bill Miller has included Conduent Incorporated among his top stock picks. Conduent, a business process technology company, has seen its shares decline 44% over the past year and 20% year-to-date. In February, cybersecurity firm MalwareBytes reported that Conduent's data breach, first disclosed in October 2025, was worse than initially believed, affecting an estimated 25 million people across the US and exposing details such as social security numbers, legal names, and health insurance data. On June 30th, Conduent announced the sale of its tolling business to a Canadian firm for $70 million, a deal expected to close before year-end as part of efforts to simplify operations and focus on core activities.

CNDT ▼

CNDT · Regulation · Negative Data breach worse than initially believed, affecting 25 million people, exposing sensitive data.

CNDT · Capital · Positive Sale of tolling business for $70 million to simplify operations and focus on core activities.

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CNDT▼

Quarterhill to acquire Conduent tolling solutions business

Quarterhill has agreed to acquire substantially all assets of Conduent's tolling solutions business. The transaction is expected to nearly triple Quarterhill's tolling revenue and create a combined backlog of approximately $2 billion. On a proforma basis, the combined companies would have generated more than $400 million in annual revenue with an adjusted EBITDA margin between 10 and 15 percent. Quarterhill will pay $70 million in cash and issue common shares representing 7 percent of outstanding shares upon closing. The deal is expected to close in the fourth quarter.

CNDT ▼

Quarterhill Inc. · Capital · Positive Quarterhill acquires tolling business, nearly tripling revenue and creating $2B backlog.

CNDT · Capital · Negative Conduent is selling a key asset, reducing its revenue and growth prospects.

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